Abstract:A sticky-information macroeconomic model is developed in order to analyze the behavior of the time trajectories of the inflation rate and of the output gap, when disturbed by eventual monetary policy shocks. In opposition to what is typical in the literature on this subject, different paces on information updating explicitly lead to a setting with interaction among heterogeneous agents. Specifically, we consider firms with different information updating frequencies whose behavior implies the emergence of atten… Show more
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